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Oil Price

Oil crunch delayed by 11 days since Oilympic peak in July 2008

It’s very easy to calculate. The monthly oil peak was in July 2008 at 74,735 mb/d of crude oil. The average during an 8 month period preceding that spike was 74 mb/d.

Since then, production dropped by an average of 1.6 mb/d over a period of 14 months. Compared to an assumed level of 74 mb/d [...]